The indictment alleges that as a result of the conspiracy, lenders provided over $3.5 million for fraudulently obtained loans, which resulted in losses of over $1 million to the lenders, the Federal Housing Administration which insured some of the loans, and the Federal National Mortgage Corp. (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac), who purchased some of the loans in the secondary mortgage market.

All of the defendants face a maximum sentence of 30 years in prison and a $1 million fine for the conspiracy and wire fraud; and a mandatory minimum of two years for aggravated identity theft consecutive to any other sentence.